OREANDA-NEWS. National Aluminium Company Limited (NALCO) has signed an MoU with the Ministry of Mines, Govt. of India regarding physical and financial targets for the 2013-14 financial year. As per the MoU signed today in New Delhi between Shri R.H. Khwaja, IAS, Secretary, Ministry of Mines and Shri Ansuman Das, CMD, NALCO, in presence of Ms Gauri Kumar, IAS, Special Secretary, the sales turnover target has been fixed at Rs.7757 crore, which is about 10% higher than that of the current fiscal.

As regards physical performance, NALCO has been given an annual production target of 64.50 lakh tonnes of bauxite, 21.5 lakh tonnes of alumina, 4.05 lakh tonnes of aluminium and power generation of 6341 million units.

Among new projects, the proposed milestones would be a new alumina refinery in Gujarat; addition of a new stream of 10 lakh tonnes in the existing alumina refinery based on Pottangi bauxite deposit; NALCO’s 3rd wind power project at Damanjodi and the solar power project at any suitable location in the country. Besides, the company has set targets for on-going Utkal-E coal mine project at Angul and upgradation of 4th stream of alumina refinery at Damanjodi.

As part of its Corporate Social Responsibility activity, NALCO shall continue to provide free education to 250 tribal children of peripheral villages of Mines and Refinery complex at Damanjodi.